Section 1 Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage 1….
Section 1 Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage 1….
Section1 Strategic Leadership: Managing the Strategy-Making Process for CompetitiveAdvantage1. Theprincipal driver (s) of shareholder value is (are)2. Acompetitive advantage is considered to be a sustained competitive advantagewhen the3. Functionalmanagers4. Thefirst step in the strategic management process is5. Aaronplanned to cut prices at his bicycle shop, but when a competing shop began tooffer free repairs, Aaron decided to copy them. Aaron’s new strategy—offer freerepairs—is an example of a (n)6. Thescenario approach to strategic planning involves7. Whichof the following cognitive biases occurs when decision makers commit even moreresources when they receive feedback that the project is failing?8. EdwardWrapp’s ideas about the astuteness of political power suggest that successfulstrategic managers9. Devil’sadvocacy10. Whichof the following is NOT a characteristic of well-constructed goals?11. Theprimary goal of a SWOT analysis is to12. Systematicerrors in the decision-making process are caused by13. Whichof the following is NOT a characteristic of emotional intelligence?
Section2 Building Competitive Advantage through Functional-Level Strategy14. Economiesof scale may be found15. Theexperience curve refers to the16. Managersshould not become complacent about efficiency-based cost advantages because17. Themarketing strategy that a company adopts
18. Theuse of self-managing teams19. Acompany’s infrastructure includes the company’s20. Flexiblemanufacturing technologies allow companies to21. Just-In-Timeinventory systems22. Whichof the following is NOT one of the principles commonly found in companies thathave successfully embraced the TQM philosophy?23. Poorcommercialization of new products24. Whichof the following recommendations would NOT be appropriate for a manager who wasstarting a cross-functional product-development team?25. Whichof the following statements about customer focus is false?
Section3 Strategy In The Global Environment26. Theglobalization of production has allowed firms to27. Whena company performs a value creation activity in the optimal location for thatactivity, wherever in the world that might be , it is trying to capitalize on28. Whichof the following is NOT a necessity for leveraging the skills of globalsubsidiaries?29. Globalexpansion30. Whichof the following factors increases pressures for cost reductions?31. Whichof the following factors increases pressures for local responsiveness?32. Alocalization strategy is based on which of the following ideas?33. TheAchilles heel of international strategy is that34. Whichoff the following is NOT an objective of a transnational company?35. Acompany that enters a foreign market by entering into a licensing agreementwith a local company36. Whichentry mode gives a multinational the tightest control over foreign operations?37. Factorsof production include all but which of the following?
Section4 Building Competitive Advantage through Business-Level Strategy38. Tocreate a successful business model, managers must choose a set ofbusiness-level strategies that39. Whichof the following is not a generic competitive strategy?40. Themain difference between companies following a cost leadership strategy andthose following a focused cost leadership strategy is41. Alarge company produces a variety of clothing for different customer groups.This firm is pursuing which of the following strategies?42. Themost expensive competitive strategy to pursue is43. Inwhich of the following situations does a differentiation strategy make the mostsense?44. Ashrinking market segment poses the greatest threat to a company pursuing whichoff the following strategies?45. Jordan’sice cream stand offers different combinations of premium flavors, cones, andtoppings to create hundreds of extravagant, customized products. Which genericstrategy is Jordan following in the restaurant industry?46. Marketsegmentation is best described as what type of process?47. Companiesthat successfully differentiate a product often charge ____ prices for them48. Acompany pursuing a cost-leadership strategy does which of the following?49. Ifa company uses a focused cost-leadership strategy, it competes in the marketsegments where50. Astrategic group is a group of companies within a particular industry
Section5 Corporate-Level Strategy: Horizontal Integration, Vertical Integration, andStrategic Outsourcing51. Thefinal part of the strategy formulation process is52. Whena company decides to expand into new industries, it must53. Aspecialized asset is one that is designed to54. Manyindustries have experienced increased consolidation over the last decade due toan increase in55. Whichof the following is a benefit that firms should expect to gain from the use ofhorizontal integration?56. Horizontalintegration in an industry tends to57. Antitrustregulation58. Whenan intermediate manufacturer moves into final assembly, it is pursuing59. Verticalintegration can be disadvantageous when60. Awealth of data suggests that most mergers and acquisitions61. Companiescan maintain market discipline over suppliers by62. Crediblecommitments63. Anothername for long-term cooperative relationships between two or more companies whoagree to commit resources to develop new products is64. Whenthere is a minimal need for close long-term cooperation between a company andits suppliers, which of the following strategies is the most appropriate?To ensure the easy transfer ofimportant competitive information between a firm and its outsourcingcontractors, the firm should65. Acredible commitment on the part of two companies is an example of a66.Strategic outsourcing is best describedas a
